Transocean (NYSE:RIG) Hits New 12-Month Low - Should You Sell?

Transocean Ltd. (NYSE:RIG - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $2.92 and last traded at $2.93, with a volume of 3693944 shares changing hands. The stock had previously closed at $2.95.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Evercore ISI lowered shares of Transocean from an "outperform" rating to an "in-line" rating and lowered their target price for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. StockNews.com raised shares of Transocean to a "sell" rating in a report on Tuesday, November 12th. TD Cowen decreased their price objective on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Finally, Benchmark restated a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $5.75.

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Transocean Stock Up 9.9 %

The company has a market cap of $2.68 billion, a price-to-earnings ratio of -4.17, a P/E/G ratio of 0.86 and a beta of 2.70. The stock has a fifty day moving average price of $3.67 and a two-hundred day moving average price of $4.07. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. As a group, sell-side analysts expect that Transocean Ltd. will post 0.14 EPS for the current year.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the transaction, the executive vice president now owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.16% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its holdings in Transocean by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider's stock valued at $107,000 after buying an additional 2,469 shares in the last quarter. Optiver Holding B.V. boosted its position in shares of Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after acquiring an additional 2,933 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Transocean by 19.4% during the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider's stock valued at $68,000 after acquiring an additional 2,963 shares during the last quarter. Van Den Berg Management I Inc. boosted its position in shares of Transocean by 11.9% during the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock valued at $106,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in shares of Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock valued at $57,000 after acquiring an additional 3,127 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.